Data Feeler: Nifty future continued to maintain its positive momentum and it rallied another 100 points with making high near by 5800 psychological zone. Nifty on weekly basis witnessed rise in price by 3.36% along with decrease in OI by 1%. Nifty future for the day, if it sustains above 5780 levels then rally may be continued towards 5850 levels whereas sustaining below 5750 levels may see profit booking in the market towards 5720-5700 levels. Looking at the option concentration data for April series, maximum put OI is at 5600 followed by 5500 strike prices and maximum call OI is shifted at 5800 followed by 5900 strike prices. Bank Nifty for the day it has support around 12000 levels whereas sustaining above 12300 levels which is the immediate hurdle area may give further upsid e towards next hurdle around 12500 levels.
Put Call Ratio based on Open Interest of Nifty moved up significantly from 1.04 to 1.15 levels. Historical Volatility of Nifty moved up from 19.10 to 19.88 levels but Implied Volatility moved down from 16.03 to 15.27 levels.
Nifty future saw decrease in OI by -0.7% with a rise in price by 1.59%. Market witnessed buying interest almost across the board especially in CD, CG, Banking, Auto, Realty, Oil & PSU, Power, Tech and FMCG sector stocks whereas marginal selling pressure was seen only in IT space. Nifty future closed at par as compared to premium of 6 points in previous trading session.
The market turnover increased by 2% in terms of number of contracts traded vis-à-vis previous trading day whereas in terms of rupees increased by 2.54%.
Derivatve Calls : Buy on RANBAXY & UNION BANK.
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